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<br /> <br /> <br />High Income <br />.6.00% <br /> <br />The result is a quarter-point drop in all lending categories (except Agricultural) from the <br />rates that were adopted by the Board in November. (The current lending rate structure is <br />shown in Table 2.) In other words, long-term rates have not really decreased a great deal <br />in the last few months. What receives all of the attention in the media are the Federal <br />Reserve's cuts in short-term rates that have been reduced two points since November. <br />There is not a direct correlation between short-term and long-term rates. <br /> <br />Table 2. CUlTent 30- Year Lending Rates for November 2000 to October 200 I <br /> <br /> <br />Low Income <br />4.50% <br /> <br />Middle Income <br />5.50% <br />3.50% <br />6.50% <br /> <br />Our review of the numbers indicates that a revised lending rate structure is not warranted <br />at this time. If the Board would like to revise the lending rate policy, it may be <br />appropriate to discuss the idea at a FinlUlce Committee meeting later this year. <br /> <br />Attachment <br /> <br />, <br /> <br />2 <br /> <br /> <br />">:;j <br /> <br /> <br />. <br /> <br />. <br />